Dr. Aaron Ali
Co-founder and CEO of MedtoMarket
Southeast Austin, Texas
31,000 square feet of medical office space
Xite Realty Team Members:
MedtoMarket, a 31,000 square-foot warehouse turned medical research center, is the new medical innovation hub for Austin, Texas. The medical office space is split between medical coworking stations (M2M Element Coworking), bioskills labs and educational training (M2M Labs), and an event center (M2M Events).
M2M Element Coworking offers single desks, large offices, and meeting rooms to healthcare providers and companies.
M2M Labs offers bioskills training and R&D space to start-up medical device and healthcare technology companies. This lab allows medical professionals to test, refine, showcase, and pitch products to investors and healthcare providers.
M2M Events offers meeting rooms in a variety of sizes for hosting conferences, training, and seminars to healthcare professionals.
Dr. Aaron Ali engaged Scott Womack, Senior Vice President of Xite Realty, to locate a space that could house MedtoMarket's headquarters, M2M Element Coworking, M2M Labs, and M2M Events under one roof.
"The process was lengthy, more than three years, to correctly identify a space that would work hard for MedtoMarket. We entertained all property types in multiple areas, from new construction in the Southwest Austin submarket to industrial spaces in the Northeast Austin submarket. After a lengthy search, we found the perfect building with a landlord that understood the business model and one space that could house the lab, training and event center, and coworking elements in Southeast Austin," said Scott Womack.
Some of the challenges Scott was able to overcome included educating landlords on the use of the space, finding a rear-load building with the necessary curb appeal and dock doors in the back for deliveries, and ample parking.
"We educated the landlords about the new and unique services that M2M was bringing to the market by explaining the important role this company would play not only in the medical community, but also for the City of Austin," said Womack.
Without MedtoMarket, healthcare providers resort to renting space from hospitals, which can be denied if hospitals need the rooms for their own training, or hotel rooms or ballrooms to conduct seminars. MedtoMarket created a place for physicians and medical device companies to train together and share best practices that can be used in real-world scenarios immediately while respecting the individuals who donated themselves to science.
"Our organization needed a tenant rep team with a solid background in the life science sector and Xite Realty was hands down the best group we could have engaged. Our vision to build a private medical innovation hub was very unique. Nothing like this exists in the United States, and we needed a particular building to pull off our endeavor. Scott Womack from Xite Realty was a huge asset to our organization. His expertise and knowledge in our space was crucial to us finding our headquarters here in Austin, TX. Scott weathered longer than most tenant reps in helping us find the right spot. With our grand opening in June of 2019, we couldn't be happier with our state-of-the-art medical innovation facility. We can not thank Xite Realty enough for all their help before, during and after the entire process. When we scale our business, we will be using Xite again," said Dr. Aaron Ali, CEO of MedtoMarket.